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Mr Vet Vy's Village Bank Group
In this Group: Vet, Khum, Choun, Soeng, Kung, Ton, Keo, Koch, Kung, Saom, Kung, On, Net, Lay, Lay, Lay, Net, Net, Phoung, Sok, Chorn, Khoun, Meas
In Chouy Dang village in Kandal Province, 23 people have formed a village bank and Mr Vet Vy is the village bank president, selected by the group members. He is a construction worker and cow breeder. As well as these businesses, he is a poultry breeder who raises 10 chickens in his house. Since his cow and chicken businesses are going well and they are growing bigger and bigger, Mr Vet Vy does not have enough money to purchase grass for his cows and chicken food for his chickens. Thus, he decided to ask for a loan for this purpose. His wife, Mrs Yin Sok, is a housewife who cooks very deliciously for her household. Mr Vet Vy is 48 years old and the father of four children who are all attending school.


My Vet Vy will share this loan with the other members of the village bank. One member has an end-of-term loan and the rest have monthly payment loans. The end-of-term loan member is not required to pay aN. principal on the loan until the very end of the loan term. End-of-term (EoT) loans are AMK's main product because they are the most beneficial to Cambodia's poor. It allows them to repay portions of the principal whenever they are financially able to. Most clients start to make payments maN. months before the end of the loan term. Almost all of AMK's clients make their payments on time. AMK has a delinquency rate of only 0.09% and AMK has a default rate of 0% on Kiva.

Additional Information

About AMK

Angkor Microfinance Kampuchea (AMK) is a leading microfinance institution in Cambodia with a wide reach of operations. AMK works with over 6,000 villages and serves clients in every Cambodian province. With an average loan size of US$115, AMK’s focus is to provide credit and savings products to the very poor in rural areas. For more information, please visit AMK's website.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About Cambodia

  • $2,600
    Average annual income
  • 242
    View loans »
    Cambodia Loans Fundraising
  • $37,096,850
    Funds lent in using Kiva
  • 4,157.4
    Cambodia Riels (KHR) = $1 USD

Success!! The loan was 100% repaid

A portion of Mr Vet Vy's Village Bank Group's $2,850 loan helped a member to buy grass for his cows and chicken food for his chickens.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Disbursed:
Sep 25, 2008
Listed
Sep 11, 2008
Currency Exchange Loss:
Covered
Ended:
Oct 15, 2009